When traveling internationally, it’s smart to carry local currency for any immediate expenses, especially in situations where credit cards are not accepted. Having cash on-hand to snag a bottle of water, catch a taxi, or get a bite to eat will make your travels far more pleasant. By purchasing foreign currency ahead of time, you can lock in a great rate, plan your budget and avoid costly hotel and airport exchange fees.

Many of our branches offer foreign currency exchange. Branches that don’t carry the foreign banknotes, can arrange to have your banknotes delivered to the branch within 24 to 48-hours.

When you return from your trip, we make it easy to sell back most unused paper currency zombie-loan episode 2

Currency converter Westpac

OFX Currency Converter - Free Live Exchange Rate Calculator

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We compare international money transfer companies you can use to exchange U.S. dollars to a foreign currency so you can send money overseas. Not all international transfer companies are created equal, especially when you compare your bank against what else is out there. Read these 8 hints so you can avoid the traps of currency exchange.

Banks are notorious for overcharging consumers, this applies to international payments as well as everyday banking services. Banks charge a commission when you send money overseas, and their foreign exchange rates are usually 3% or more above the market rate. Compare international transfer companies and spend a couple of minutes opening an account and you’ll be rewarded with a better deal.

Banks vs. Money Transfer Providers

As you can see, although the second transfer company charges a lower transfer fee, its lower exchange rate makes the first transfer company a better deal.

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3. Don’t be fooled by the online calculator

Many of the online calculators give an indicative rate only. You’re shown an example rate based on the market rate, and it usually won’t be the rate you will actually get when you request a full quote to send money overseas.

You will usually see an asterisk next to the company’s online currency calculator if an indicative rate is used, as shown in the screenshot below when we used the WorldFirst currency converter to transfer money to France.

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4. If you have time, you can save yourself a lot of money

You can send cash to someone on the other side of the world in minutes with help from companies such as Western Union and MoneyGram. But you’ll pay a premium for speed. If it’s not urgent, it’s worth using a foreign exchange provider such as OFX, XE, TransferWise or CurrencyFair. These companies can send money to an overseas bank account in a couple of days, and you’ll pay a lower fee and get a better rate.

5. A limit order can save you money if the transfer isn’t urgent

A limit order lets you target a rate to trade at. If you have time to wait and watch foreign exchange markets before executing your international money transfer, a limit order ensures you get the best rate you can. When your targeted rate becomes available, your currency exchange account manager (not available with banks for personal customers) will execute your trade.

6. Protect yourself from losing out with a stop loss order

A stop loss order works in the opposite way as a limit order. Instead of targeting a “best rate scenario,” a stop loss order protects you from worst case scenarios. If the exchange rate drops to a certain level, your trade is executed to prevent further losses. You can use limit and stop loss orders at the same time.

7. Compare, compare and compare again

Don’t go for the first company you see if you want to send money overseas. Make sure you compare deals side-by-side and make an informed decision when you accept a quote from a company and pay for a transfer.

8. What about asking for a better deal

If you’re a corporate customer and you deal in large transactions or recurring payments, you may want to see if any of the currency exchange companies can cut you a deal. Worst case scenario: they say no. Best case scenario: you save money.

The international money transfer market is opening up. Now more than ever you can get a good rate, pay next to no fees and send money overseas. If you have any questions about your currency exchange comparison, get in touch with us using the form at the bottom of this page, and a member of the finder team will be in touch where can i find a loan shark

Foreign Currency Exchange Services PNC

Rates are informative and may change during the day. European Central Bank exchange rates are updated only on SEB settlement days. During off-work periods the bid/ask spreads are wider than usual.

Why are the rates different from those advertised in the newspaper or internet

The exchange rates published in the newspaper or on the internet are indicative rates and typically are applicable to large transactions executed between banks. PNC’s exchange rates for individual foreign currency orders are competitive with those offered by local banks.

Foreign currency checks may only be deposited into U.S. dollar accounts held at a PNC branch. Please note that checks payable in a foreign currency may take six or more weeks to process salle mae loans

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